Uniti Group (NASDAQ:UNIT) Sets New 52-Week Low at $7.80

Uniti Group Inc (NASDAQ:UNIT)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.80 and last traded at $7.80, with a volume of 480764 shares trading hands. The stock had previously closed at $8.09.

UNIT has been the subject of a number of research analyst reports. Zacks Investment Research lowered Uniti Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. BidaskClub raised Uniti Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Sell” and a consensus target price of $12.57.

The firm has a market cap of $1.51 billion, a P/E ratio of 3.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The stock has a fifty day simple moving average of $8.65 and a 200 day simple moving average of $10.82.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, September 27th. Uniti Group’s payout ratio is currently 7.97%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. bought a new stake in shares of Uniti Group in the second quarter worth $28,000. Mcmillion Capital Management Inc. bought a new stake in shares of Uniti Group in the second quarter worth $73,000. Rocky Mountain Advisers LLC grew its holdings in shares of Uniti Group by 1,566.7% in the first quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 7,050 shares during the period. Joseph P. Lucia & Associates LLC bought a new stake in shares of Uniti Group in the first quarter worth $89,000. Finally, Ford Financial Group Inc. bought a new stake in shares of Uniti Group in the second quarter worth $103,000. 76.40% of the stock is owned by institutional investors.

Uniti Group Company Profile (NASDAQ:UNIT)

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

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